The acquisition of performance rights organization BMI by New Mountain Capital, which transpired late last week, will put approximately $100-million of cash into iHeart’s balance sheet. Along with that, BMI announced that $100-million of post-sale proceeds will be distributed to music creators. There is some controversy. Continue Reading
Leading performance rights organizations (PROs) ASCAP and BMI have jointly announced the launch of Songview, a searchable database of music ownership rights. Better organization and transparency in the tangled field of music ownership has long been needed, according to nearly all experts in the field, to more accurately and quickly direct royalty payments to the proper creators. Continue Reading
The coronavirus pandemic has already had an impact on music consumption and performance around the world. Performing rights organization ASCAP is the latest company to share changes as a result of the disease. President and Chairman Paul Williams told members in an email that the organization is postponing its scheduled April 6 payments to April 28. Continue Reading
Performing rights organization BMI announced another record-breaking year of financial results. During its fiscal year ending June 30, the group increased revenue 7% to reach $1.283 billion. Continue Reading
The Department of Justice has closed the open comment period for its review of the consent decrees governing ASCAP and BMI. Both of the performing rights organizations have submitted their views on the subject, as have other groups from the music and audio industry. Even though the topic was recently addressed by the DOJ, the sector still has deeply divided interests in how these rules may or may not change. Continue Reading
The U.S. Department of Justice has officially opened a new review of the consent decrees governing ASCAP and BMI. Both performance rights organizations have operated their copyright management systems under these rules for more than 75 years. The review will examine whether the decrees should continue in their current state, receive modifications, or be ended entirely. Continue Reading
Consent decrees are back in the headlines. These rules govern how performing rights organizations ASCAP and BMI collect fees for use of their catalogs, but now the Department of Justice is reviewing the decrees and considering their end. Today, ASCAP and BMI issued an open letter with their stance on the possible reforms. Continue Reading
Major labels and publishers are quick to call in the copyright lawyers, and this time their target was a podcast that they claimed was illegally using music in episodes. David Oxenford explains the distinctions between different performance licenses and what podcasters should do to stay on the right side of copyright law. Continue Reading
Performing rights organization BMI has reported record-breaking revenue, securing $1.199 billion during the fiscal year ending June 30. The group administered $1.118 billion in royalties to its songwriters, composers and publishers, another record high and a 9% increase from the prior year’s total. Continue Reading
BMI announced that a Court of Appeals for the Second Circuit has ruled in its favor, meaning the preforming rights organization will be able to continue its use of fractional licensing. That’s a big win for BMI, although understanding why requires some review of legal proceedings and details from the past 18 months. Continue Reading
Performing rights organization BMI shared the financial results from the 2017 fiscal year. Annual revenue reached a record high of $1.13 billion. Distributions and administrations to artists totaled $1.023 billion, another record figure. According to the press release, BMI’s 2017 results are the largest public performance revenue and royalty distributions of any music rights organization worldwide. Continue Reading
ASCAP and BMI announced a collaboration that will see the two performing rights organizations create a single comprehensive database of musical works from their libraries. The database will contain an overview of shares and rights information for much of the music licensed in the United States, offering more clarity around music ownership. Continue Reading